WPI inflation eases marginally to 2.47% in March

Galtero Lara
Abril 16, 2018

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 0.04 percent, the yield on the long-term 30-year note almost steadied at 0.70 percent and the yield on short-term 2-year remained flat at -0.15 percent by 04:50 GMT.

The index for primary articles rose only 0.24 percent annually in March, while prices of food articles dropped by 0.29 percent.

Inflation in food articles declined by 0.4% to 137.2, from 137.8 for the previous month due to lower price of egg, gram, tea, coffee, poultry chicken and condiments and spices, among others.

Bulgaria's annual consumer price index (CPI) recorded 2.2 per cent inflation in March, up 0.2 percentage points compared to a month earlier, despite 0.3 per cent deflation on a monthly basis, according to data released by the National Statistical Institute (NSI) on April 16.

Food articles inflation contracted in March 2018 at 0.29 per cent. Prices of pulses continued to slump for a year now, with rate of decline relatively slowing at (-) 20.58 percent in March compared to fall of (-) 24.51 percent in February and (-) 7.78 a year ago.

Prices of the other major group under the WPI, manufactured products, which comprise almost 64.23 per cent of the index, recorded a 3.03 per cent rise.

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On a year-on-year (YoY) basis, onion prices soared higher by 42.22 percent whereas potato prices rose by 43.25 percent. This is different from the consumer price index-based inflation, which reflects price changes in the retail market.

Food and non-food articles, wheat, pulses, vegetables, fibres and cereals witnessed disinflation during March.

The inflation data for January was revised upwards to 3.02 per cent from the provisional estimate of 2.84 per cent.

As per CSO data, inflation in the vegetables segment cooled to 11.7 per cent in March from 17.57 per cent in the previous month.

To remind you, in its first monetary policy review for the fiscal, the Reserve Bank earlier this month maintained status-quo on interest rate citing inflationary concerns.

It may be recalled that WPI had come in at 5.11 per cent in March previous year.

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